A Numerical Value Used as a Summary Measure for a Sample

question 16

Multiple Choice

A numerical value used as a summary measure for a sample is known as a sample

• A) error.
• B) parameter.
• C) statistic.
• D) value.

---

Definitions:

Deposit

The act of placing funds into a bank account or a sum of money that is held in custody for future transactions.

Simple Interest

The calculation of interest paid only on the original amount of money invested, not on the interest it has already earned.

Compounded Annually

Describes the process by which an investment's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time.

Interest Rate

Interest rate is the percentage of principal charged by the lender for the use of its money or the return earned on deposited funds.